Zilliqa (ZIL) Price

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Zilliqa (ZIL) Price

$0.0113 0.04%

24H

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ERC20

Latest Updates

Updated at 08:50

Market cap

$220,495,201.2

Market rank

#193

Volume 24H

$13,250,664.01 1.88%

Price change 24h

+$0.000004897 0.04%

Price change 7d

+$0.00001 0.13%

What about Zil?

ZIL is a cryptocurrency that was created by the Zilliqa project. Zilliqa is a high-throughput public blockchain platform designed to scale to thousands of transactions per second.

ZIL, the platform’s native utility token, is used to facilitate transaction processing and the execution of smart contracts. The project uses sharding technology to ensure infinite scalability.

ZIL was launched in January 2018 and is currently one of the top 30 cryptocurrencies by market capitalization. It can be exchanged and traded on most major crypto exchanges and is also often used as a store of value or payment method.

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Zilliqa (ZIL) Overview

Zilliqa (ZIL) describes itself as the world’s first sharding-based blockchain. It is a decentralized ledger system that enables high throughput of blockchain transactions per second and offers an efficient infrastructure to develop and launch scalable decentralized applications (dapps).

The Zilliqa smart contract platform wants to solve the scalability challenges that plague traditional blockchains. This is supposed to be done via a special technology known as sharding. Sharding allows the Zilliqa network to process multiple transactions in parallel, significantly increasing its capacity and speed. The project’s team states that the transaction speed exceeds that of the Ethereum network by a thousand times.

Zilliqa aspires to become the blockchain of choice for large-scale enterprise use, including among the advertising, gaming, entertainment and financial services and payments industries.

Zilliqa is a thriving ecosystem consisting of 125 DeFi projects. Prominent business partners, wallet providers and cryptocurrency exchanges to cooperate with Zilliqa include Binance, Chainlink, Ledger, and Changelly, to name a few. Developers can also launch their own crypto assets on Zilliqa. Tokens hosted on the Zilliqa blockchain have a ZRC-2 standard.

Zilliqa's native token is called ZIL. The digital asset is used for various purposes on the Zilliqa public blockchain. The ZIL token covers transaction fees, confers holders with a right to vote on the project’s future direction, and also serves as a medium of exchange within the ecosystem.

Staking ZIL also allows users to earn rewards for decentralizing the Zilliqa network. Since the Zilliqa blockchain uniquely relies on a combination of Proof of Work (PoW) and Practical Byzantine Fault Tolerance (PBFT), the ZIL coin is also suitable for mining.

How Does Zilliqa Work?

Zilliqa (ZIL) seeks to overcome the persistent blockchain scalability issue. The solution to this is viewed via a unique sharding technique that allows Zilliqa to scale linearly as the network grows. The Zilliqa sharded network can handle a large volume of transactions, so businesses and decentralized applications that require high throughput can benefit from it.

Sharding

Sharding in Zilliqa refers to breaking a blockchain network into multiple smaller units called shards. Each shard processes transactions individually because it is designed to operate as an independent blockchain from the rest of the network. This distributed approach allows for parallel processing of transactions, leading to higher scalability and throughput. Each shard has its own group of nodes that validate transactions within that shard, ensuring faster consensus and reducing the overall network congestion.

The Zilliqa network contains 2,400 nodes distributed across four shards. Each transaction received by the network gets validated by a shard with 600 nodes. This makes Zilliqa one of the most efficient blockchains in the crypto world.

PBFT

Zilliqa uses a hybrid Proof of Work (PoW)/Practical Byzantine Fault Tolerance (PBFT) mechanism to achieve consensus on transactions and contract executions. In the PoW phase, miners compete to solve computational puzzles, providing security and preventing Sybil attacks. Once a certain number of PoW solutions are collected, the network enters the PBFT phase.

During the PBFT phase, a committee of designated nodes, known as "DS Committee," reaches consensus on the transactions. These nodes take turns proposing blocks and validating transactions. The consensus is achieved when a two-thirds majority agrees on the validity of a block, ensuring finality and liveness in the network.

Scilla

Zilliqa also features Scilla. It is a peer-reviewed and safe-by-design smart contract language that addresses security breaches prevalent in other programming languages that execute smart contracts.

Short for Smart Contract Intermediate-Level Language, Scilla is specifically designed for the decentralized finance (DeFi) ecosystem. The language is intended to automatically identify and eliminate security vulnerabilities through mathematical proofs at the language level. Scilla also comes with features like the Cashflow Analyser tool, which helps detect and prevent fund misappropriations in smart contracts.

View the current price of ZIL, the Zilliqa market cap, and other vital figures on the chart above. Exchange or buy Zilliqa via our user-friendly crypto exchange.

What Is the ZIL Token?

The ZIL token is a native utility token for the Zilliqa blockchain, designed to support and scale decentralized applications (dapps). With ZIL coins, individuals can engage with various dapps and services on the Zilliqa network. The ZIL cryptocurrency can be used to pay for products and services, trade non-fungible tokens (NFTs), participate in the creator economy, and explore the emerging metaverse.

Additionally, ZIL allows users to earn rewards by staking their tokens, contributing to the security and sustainability of the Zilliqa network. With significantly lower fees compared to other cryptocurrencies like ETH, ZIL provides an efficient and cost-effective solution for token transfers and interactions on the blockchain.

The token has a circulating supply of 17.5B tokens out of a total supply of 18.5B tokens.

The live price of Zilliqa is provided above. If you wish, you can easily swap your Zilliqa coins for other digital assets, such as Bitcoin Cash or Binance Coin, through our cryptocurrency exchange. Our platform also allows you to effortlessly buy ZIL tokens with fiat money, using regular payment methods like a debit card or bank transfer.

What Is the Zilliqa Blockchain History?

Development work officially started in June 2017, and the platform's testnet was launched in March 2018. Over a year later, in June 2019, Zilliqa officially launched its mainnet.

The concept of Zilliqa was first introduced by Prateek Saxena, an assistant professor at the National University of Singapore School of Computing. Saxena, along with several students, published a paper in 2016 outlining a sharding-focused blockchain that could improve network efficiency and speed.

Saxena co-founded Anquan Capital around the same time, and Zilliqa Research was incorporated in June 2017 to develop the Zilliqa network. Since its launch, the Zilliqa network has been active and has been processing transactions regularly.

Access the historic price of Zilliqa from the interactive chart above, apart from the latest ZIL market information. Changelly allows you to see the lowest price and the highest price paid for the Zilliqa cryptocurrency, as well as the average price the coin is traded at today. It also displays the ZIL price fluctuations at different periods. The detailed Zilliqa price history may assist you in creating your own ZIL price prediction.

What is the Price of Zilliqa Today?

Our interactive Zilliqa price chart provides the ZIL-USD price with real-time updates. Whether you want to learn about the current ZIL price, its 24-hour trading volume, recent price swings, or market capitalization – Changelly has got you covered. Our comprehensive ZIL price chart offers the latest data, letting you easily know how the Zilliqa coin is performing at the crypto market.

Our Zilliqa (ZIL) price prediction, based on the fundamental and technical analysis of the digital asset, may help you make informed investment decisions. But consider doing your own research and following the latest crypto news before you buy ZIL tokens because our Zilliqa price prediction is not guaranteed.

If you consider Zilliqa (ZIL) a good investment, our platform is an ideal place to buy cryptocurrency with fiat money. You will enjoy our industry-low fees, paramount security, and speedy transactions to help you smoothly embark on a crypto journey.

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FAQ

What determines the price of Zilliqa?

The price of Zilliqa is determined by a range of factors, including supply and demand, market news and events, investor sentiment, and competition from other cryptocurrencies.

Investors can follow the performance of ZIL on various platforms, including online exchanges and price-tracking websites like Changelly. By monitoring market news and keeping up to date on the cryptocurrency's performance, investors may gain insights into its prospects and make informed investment decisions.

However, it's worth keeping in mind that cryptocurrency prices are highly volatile and can fluctuate rapidly, so you should exercise caution and conduct your research before investing.

What was the starting price of Zilliqa?

The starting price of an asset refers to the price at which it debuted on the market.

The change in price is due to various factors, including mainstream acceptance of the cryptocurrency, the size of the initial offering, and the level of demand from investors.

You can find historical price data for ZIL on Changelly's real-time charts. They offer valuable insights into the cryptocurrency's past performance and can help you make informed investment decisions.

When investing in cryptocurrencies, keep in mind that prices can change quickly due to market conditions and other factors.

What was the highest price of Zilliqa?

The highest price of Zilliqa refers to the highest value that it has ever achieved on the market. This can be influenced by a range of factors, including market demand, investor sentiment, and the overall health of the cryptocurrency ecosystem.

You can track real-time prices of ZIL with just a few clicks on Changelly. Our platform provides you with access to historical price data so you can easily analyze the performance of the cryptocurrency over time. Interactive charts make it super easy to understand and help you stay on top of market trends, identify key price points, and keep up with the latest industry developments all in one place.

It is important to note that the highest price ever reached by a cryptocurrency in the past does not always mean it is going to do well in the future. So, before investing, you should exercise caution and do your research.

What was the lowest price of Zilliqa?

Cryptocurrencies are known for their volatile nature, and their prices can fluctuate rapidly in a short period. As a result, traders are always keen to know the lowest price of a cryptocurrency to assess its potential risks and returns.

With Changelly's live charts, you can easily view historical price data for a wide range of cryptocurrencies, including Zilliqa. Our charts provide a wealth of information on the performance of an asset, including its lowest price point.

It is crucial to remember that the crypto's previous lows do not mean it is doomed to fail. Before making any investments, take your time to research and proceed with caution.